Industrial Development & Economic Growth in Haryana

August, 2014

The state's natural resources, policy incentives and infrastructure support investments in sectors such as automobiles and auto components, IT/ITeS, textiles, agro-based industries, business tourism and commerce.

Forming industrial clusters and developing infrastructure has been a key strategy of the state to attract investments in various industries. The new Industrial and Investment Policy, 2011, promotes manufacturing as a key driver of economic growth and invites private sector investment through public-private partnership. The policy aims to strengthen small and medium enterprises (SMEs) and encourages quality competitiveness, investment in research and development (R&D) and technology upgradation.

The Haryana State Industrial and Infrastructure Development Corporation Ltd (HSIIDC) is the state's premier industrial promotion and investment facilitation agency, responsible for providing reliable and efficient facilities for entrepreneurs investing in the state.

The state has taken a number of steps for developing industrial infrastructure to achieve consistent economic growth. The following are some of the initiatives:

The state government has planned to acquire 1,000 acres of land for a dedicated pharma park in the KMP express global economic corridor.

The International Centre for Automotive Technology (ICAT) has been set up at Manesar as a part of the National Automotive Testing and R&D Infrastructure Project (NATRiP). It provides testing and R&D services to the industry.

The state government has proposed a sliding railway and logistic centre in IMT Manesar for smoother transportation and more effective inventory management.

The state government has extended various incentives to companies within the sector, including relaxation in floor area ratio, rebate on registration, transfer of property charges and exemption under the Haryana Shop & Commercial Act.

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